Global Shipping Business Network (GSBN), signed MoU with Saudi Basic Industries Corporation (SABIC), carrier COSCO SHIPPING Lines (COSCO SHIPPING), Hutchison Ports and PSA International (PSA), to enable paperless trade.
According to the GSBN, the MoU will see all signatories leveraging the electronic Bill of Lading (eBL) for export shipments by SABIC via COSCO SHIPPING to ports in Asia controlled by Hutchison Ports and PSA. Structured data from the eBL issued via GSBN’s data infrastructure, will also be used by Cargo Release to enable a fully digital solution, which connects everyone involved at the ports of import to enable the secure and paperless release of containers.
To remind, the nine ocean carrier members of the Digital Container Shipping Association (DCSA), including Hapag-Lloyd, announced their commitment to fully adopt standardized electronic bills of lading (eBL) by 2030.
Bertrand Chen, CEO at GSBN, said, “It is encouraging to see impetus in driving eBL adoption. GSBN is ready to step up to be the platform which brings these initiatives to life. What is exciting about this collaboration is the ability to demonstrate the value of end-to-end eBL adoption with Cargo Release. The infrastructure we have built will serve as the trusted hub, enabling orchestration between these different parties to improve operational efficiency and supporting the possibility for future applications that can unlock new value beyond the supply chain.”
The announcement follows recent efforts from the Digital Container Shipping Association (DCSA), The Baltic and International Maritime Council (BIMCO) and the International Chamber of Commerce (ICC) to encourage eBL adoption, as well as GSBN’s collaboration with these standard bodies to support different types of eBL from container to bulk. Furthermore, GSBN’s Trade Finance Advisory Group, comprised of global banks, will also offer a platform for future collaboration in the area of trade finance.
We are delighted to be partnering with GSBN and its ecosystem as well as customers such as SABIC to further accelerate eBL adoption. GSBN’s collaboration with different industry players make its infrastructure an ideal platform to unlock the holistic potential of eBLs and new technology.
..said Capt. Song Weijun, General Manager, New Golden Sea Shipping Pte. Lt at COSCO SHIPPING Lines.
This is another milestone in our long-standing strategy to develop new technologies and partnerships with the likes of GSBN to enable modern, world-class ports. GSBN’s Cargo Release is a proven solution which is already delivering very tangible benefits and we are confident this collaboration will further bring to life the value the consortium’s platform can deliver.
…said Andy Tsoi, Managing Director, Middle East and Africa, at Hutchison Ports.
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